Hapag-Lloyd with a strong third quarter

• Higher spot rates drive significant increase in earnings
• Stable volumes despite geopolitical tensions and operational disruptions
• Growing Terminal & Infrastructure business continued to gain strategic importance 
• Earnings outlook for 2026 raised amid continued favorable market fundamentals

Hapag-Lloyd concluded the third quarter of 2026 with a significantly higher Group EBITDA of USD 1.7 billion (EUR 1.5 billion) compared to the same period of the previous year. Group EBIT climbed to USD 1.1 billion (EUR 0.9 billion) and Group profit to USD 1.0 billion (EUR 0.9 billion). The main drivers for this positive development were significantly higher freight rates, strong vessel utilization in the Liner Shipping business and dynamic growth in the Terminal & Infrastructure segment.

In the Liner Shipping segment, revenue increased to USD 6.7 billion (EUR 5.8 billion) in the third quarter of 2026, driven by a significantly higher average freight rate of USD 1,808 per TEU (Q3 2025: USD 1,413 per TEU). Transport volumes reached 3.4 million TEU, remaining in line with the prior-year quarter despite the conflict in the Middle East and weather-related operational disruptions, both of which also put pressure on unit costs. EBITDA increased to USD 1.7 billion (EUR 1.4 billion), while EBIT rose to USD 1.1 billion (EUR 0.9 billion).

The Terminal & Infrastructure segment continued to grow. Revenue increased to USD 197 million (EUR 171 million) in the third quarter of 2026, reflecting investments in new and existing terminal capacity and improved performance of Latin American terminals. EBITDA advanced to USD 56 million (EUR 49 million), while EBIT improved to USD 34 million (EUR 29 million).

“We delivered a strong third quarter, driven by significantly higher spot rates, robust demand and high capacity utilization. Both our Liner Shipping and Terminal & Infrastructure businesses performed well, supported by the continued expansion of our global terminal portfolio. At the same time, unit costs still remain under pressure due to geopolitical tensions and operational disruptions. Looking ahead, we are committed to continue delivering unparalleled quality to our customers, investing in continued growth and maintaining strict cost discipline to further strengthen our competitive position,” said Rolf Habben Jansen, CEO of Hapag-Lloyd.

Supported by continued robust spot freight rates, business performance in the fourth quarter is developing better than previously expected. The Executive Board of Hapag-Lloyd AG therefore decided on November 11 to raise its earnings outlook for the 2026 financial year once again. Group EBITDA is expected to be in the range of USD 4.6 billion to 5.0 billion (EUR 4.0 billion to 4.4 billion) and Group EBIT in the range of USD 2.0 billion to 2.4 billion (EUR 1.7 billion to 2.1 billion). Against the backdrop of volatile freight rates and persistent geopolitical challenges, the outlook is subject to a considerable degree of uncertainty.

The financial report for Q3 2026 is available here.